The Latest Breaking News from Nippon Steel

Nippon Steel on Wednesday slammed the "inappropriate" role of politics after Bloomberg News reported that President Joe Biden would block its planned takeover of US Steel.

The signs at Nippon Steel read: “The world through steel,” underlining why Japan’s top steelmaker is pursuing its $15 billion bid to acquire U.S. Steel

The Japanese steelmaker aims to complete the takeover of United States Steel Corp before President-elect Donald Trump, who had vowed to block the acquisition during his campaign, assumes office in January.

'When U.S. Steel CEO David Burritt declares how good the Nippon deal will be for workers, I’m not going to take him at his word,' writes USW's David McCall.

Dismissing national security concerns, David Burritt said once the deal is finalized, the Japanese company will have to abide by U.S. trade laws. He added that the board will predominantly consist of U.S. citizens overseeing operations.

Unions, Japanese takeovers, and Pennsylvania have all conspired to make the proposed deal for U.S. Steel a hot election year issue.

The Biden administration granted the request of Nippon Steel for an extended review on the planned takeover of U.S. Steel.

Major Japanese and American business groups have urged US Treasury Secretary Janet Yellen not to succumb to political pressure when reviewing Nippon Steel's proposed acquisition of United States Steel.

Debate over the potential takeover of a U.S. steel company by Nippon Steel raises concerns about national security and economic impact.